- A) Applicants will be accepted as members of the Iranian Institutional Investors Association under the following conditions:
1- The applicant must have an organization and institution, and technical, administrative, financial, and human resources. Also, the organization should comply with criteria set by Saba at the discretion of the Association’s board of directors.
2- The applicant undertakes and accepts that will observe all articles of association, the professional and disciplinary rules and standards, and other regulations of the Association at any time.
3- The applicant undertakes and accepts that will pay the admission fee, membership fee, and other payments that have been determined and prescribed under the articles of association and bylaws of the Iranian Institutional Investors Association.
4- The applicant is obligated to notify the Iranian Institutional Investors Association, any change in its articles of association in writing within one week from the date of approval.
5- The applicant is obligated to provide any required information to the Iranian Institutional Investors Association to be ensured that the member is committed to the criteria of paragraphs 1 and 2 of this article, and give Iranian Institutional Investors Association the power of doing other assigned criteria.
Note: The agreement with the membership of each applicant is subject to the approval of the Board of Directors.
- B) The members of Iranian Institutional Investors Association must pay the admission and membership fees according to the association’s rules.
Note: The maximum of admission and membership fees for members is approved by Saba.
- C) To ensure that the member and its affiliates comply with established laws, regulations, articles of association, and professional and disciplinary rules and standards, Iranian Institutional Investors Association can request information or reports from any member.
- Except for reports of the board of directors and annual financial statements, all other required information for the purpose of the Association’s supervision based on the certain regulations that will be obtained from the members; these regulations will be prepared by the board of directors of the Association and approved by Saba.
- The member is obliged to meet the requests of the Association for providing reports and materials, and in case of refusal, accept the subsequent disciplinary consequences.
- D) In accordance with the supervision’s rules and regulations and in order to improve the quality of professional services for the members, the Association can monitor that how the member and its affiliates observe the rules and regulations, determining disciplinary measures, the articles of association, and other regulations. The Iranian Institutional Investors Association can also request the necessary information based on Article 44, about activities, properties, assets, and other properties of the member.
- The board of directors is obliged to review the member’s compliance with the regulations approved by the Iranian Institutional Investors Association at least once a year.